Management buy-out at Lurgi Life Science
pharmaceutical and chemical engineering unit to two former
executives in a management buyout.
Lurgi has transferred the business, run by its Chemnitz-based subsidiary Lurgi Life Science, to the newly established Chemieanlagenbau Chemnitz (CAC). The latter is headed by Joachim Engelmann, the former managing director of Lurgi Life Science, and by Joerg Engelmann, divisional manager at the company.
CAC plans to offer engineering services to third parties but is also expected to win contracts from Lurgi and other business in the mg group. This will allow CAC to retain the approximately 140 companies based at its Chemnitz site. The purchase price has not been disclosed.
CAC will operate as a medium-sized company, concentrating on engineering services and building industrial plant for clients from the chemical, oil and pharmaceutical sectors. Its regional focus will be on German-speaking countries and eastern Europe.
